Will 2017 Be the Year of Experiences?

As consumer trend reports for the coming year start to trickle in, it becomes apparent that experiences will play an even larger role in 2017 than they did in 2016. Latest example: The Ford 2017 Trend Report and its “The Good Life 2.0” analysis.

The other day FWT put experiences as their #1 trend in their Future 100 report for 2017 (“finally brands understand that experiences are the only thing that leaves an authentic impression on the audience”). Now we stumbled upon the Ford Trend Report 2017, the latest instalment in an annual collection of trends that might affect the car industry. In what they label “The Good Life 2.0” they predict that a growing number of consumers believes that bigger isn’t always better, and ownership doesn’t equal happiness. Or in their words:

More and more consumers are finding joy in less, taking advantage of access-over-ownership service models and wealth is an increasingly outdated measure of success. These shifts are prompting global citizens to rethink what it means to live the good life, where “good” encompasses not just possessions, but also experiences and values.

According to their report, about 4 out of 5 consumers are annoyed by people who are showy with their money, and a good two-thirds care less about material possessions than they did in the past. What does this mean? Experiences are on the rise, and brands should be aware of this.

Photo credit: FlickrCC/Leo Hidalgo (@yompyz) Frigiliana park.